FARIBAULT AREA TRAINING AND EDUCAT… - Form 990 Financial Data

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1983

Legal Domicile

Principal Officer

DR DICK HUSTON

Phone

5073325808

Tax Period

2023-07-01 to 2024-06-30

FARIBAULT AREA TRAINING AND EDUCATION FOUNDATION, founded in 1983, is a small nonprofit that reported $116K in total revenue in fiscal year 2023. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $313K exceeded revenue, resulting in a 170% operating deficit.

Mission

SUPPORTING POST-SECONDARY EDUCATION

Program Service Accomplishments

Program 1

Expenses: $171,544

PROVIDED SCHOLARSHIP FUNDS TO SOUTH CENTRAL COLLEGE FARIBAULT CAMPUS STUDENTS

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $55,429

Program Service Revenue $0

Investment Income $60,769

Other Revenue $0

TOTAL REVENUE $116,198

Expense Breakdown

Grants Paid $169,541

Salaries & Benefits $99,250

Fundraising Expenses $3,229

Program Expenses $171,544

Other Expenses $44,425

TOTAL EXPENSES $313,216

Year-over-Year Comparison

	2023	2022	Change
Revenue	$116,198	$180,110	-0.4%
Expenses	$313,216	$257,510	+0.2%
Net Income	$-197,018	$-77,400	+1.5%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$80,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GAIL KADERLIK	EXECUTIVE DI	30.00	Director	$80,000	$0	$80,000
DR RICHARD BERGE	HONORARY	1.00	Director	$0	$0	$0
RICHARD COOK	DIRECTOR	1.00	Director	$0	$0	$0
TIM FINLEY	DIRECTOR	1.00	Director	$0	$0	$0
MIKE GRAMSE	DIRECTOR	1.00	Director	$0	$0	$0
ELLIE HOLMQUIST	EXECUTIVE DI	0.00	Director	$0	$0	$0
BARTON JACKSON	DIRECTOR	1.00	Director	$0	$0	$0
IBRAHIM KHALIF	DIRECTOR	1.00	Director	$0	$0	$0
GARY VOEGELE	DIRECTOR	1.00	Director	$0	$0	$0
DR CHERYL FREUND	AT LARGE OFF	1.00	Officer	$0	$0	$0
DR DICK HUSTON	AT LARGE OFF	1.00	Officer	$0	$0	$0
RICK MILLER	PRESIDENT	1.00	Officer	$0	$0	$0
JASON ROBINSON	VICE PRESIDE	1.00	Officer	$0	$0	$0
KEN WEAVERLING	SECRETARY/TR	1.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$116,198	$313,216	$3,358,896	$-197,018
2023	$180,110	$257,510	$3,273,360	$-77,400
2022	$166,269	$203,320	$3,318,761	$-37,051
2021	$308,823	$187,303	$3,560,550	$121,520
2020	$604,290	$247,347	$3,011,231	$356,943
2019	$389,880	$215,787	$2,887,189	$174,093
2018	$400,851	$283,667	$2,648,132	$117,184

FARIBAULT AREA TRAINING AND EDUCATION FOUNDATION